How To Buy Litecoin in Singapore / Canada
Anyone may purchase Litecoin with Singapore Dollars (SGD), Canadian Dollars (CAD), or US Dollars (USD) with the help of Coinut (Coins U Trust). In this exclusively curated beginner's guide, you will discover how to buy Litecoins online and safely keep them in your Coinut wallet.
1.Sign Upfor Coinut
To buy Litecoins online, the first step is to register for a Coinut account. By signing up, you will be given a secure Coinut wallet where you can store your Litecoin. Additionally, this digital currency wallet will offer easy payment options for purchasing digital currencies using SGD, CAD, or USD.
2. Connect your Bank Account
Prior to using the account, you will need to complete a few quick verification procedures after signing up. Simply fill out the Customer Due Diligence form and link your bank account to your digital wallet. After the verifications are completed, you may proceed to begin a transaction.
3. Buy, Sell or Trade Litecoin
Following your purchase of Litecoin on Coinut, we will safely store them in your Litecoin wallet, where they will be visible in your Balance Status. 'Selling' operates similarly but in reverse. You may now proceed to buy, trade, or sell Litecoins in Singapore and Canada. Moreover, you will receive updates from our cryptocurrency exchange in regards to any changes to the Litecoin price.
Learn more:Step-by-Step Guide
What is Litecoin?
Litecoin, a cryptocurrency, enables nearly immediate and inexpensive payments. It operates on a peer-to-peer network, like other cryptocurrencies, so users may send and receive money without the involvement of middlemen.
Former Google engineer Charlie Lee founded Litecoin in 2011, referring to it as the 'lite version of Bitcoin'. With the aim of emphasising transaction confirmation speed to enable more transactions per second, Litecoin employs many of the same features as Bitcoin. Due to its cryptographic algorithms, it facilitates a shorter block generation time and improves network efficiency.
LTC, designed as a deflationary currency, has a circulation limit of 84 million. For every 840,000 blocks or roughly every four years, it undergoes halving until the block reward is zero.
Why should I buy Litecoin?
When you buy Litecoins in Singapore and Canada through Coinut, they can be used for a variety of purposes besides Litecoin exchange. Among them are:
- Pay for products and services.
- Utilise your coin as a store of value by holding on to them.
- Send money to family and friends.
- Include them in your short-term or long-term trading plan.
What can I do with Litecoin?
You have learned how to buy Litecoins online in Singapore and Canada, but what is next? The following are three of the most popular options to consider after purchasing Litecoins;
1. Hold/store Litecoin
Numerous users hold on to their Litecoins in the hope that their value will rise. In the meantime, you may store your Litecoin safely in our secure Coinut cryptocurrency wallet.
2. Spend Litecoin
Litecoins may be used to pay for products and services. Both large corporations and small enterprises are now accepting Litecoin as a form of payment.
3. Buy, sell, and trade Litecoin
You may trade, sell, and buy Litecoins online in Singapore and Canada with Coinut for other cryptocurrencies.
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